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 Opening a Bank Account in Singapore

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Davidtcf
post Mar 3 2022, 05:55 PM

To the moon!!
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3,520 posts

Joined: Jan 2003


good for others here to know if you have not already.. I send a ticket via the CIMB SG website to ask about inactive account. Below is their reply:

QUOTE
CIMB At Your Service
5:45 PM (6 minutes ago)
to me

Dear Sir/Mdm

Thank you for your email of 1 March 2022.

We wish to inform that an account will turn into inactive status when there are no deposits or withdrawals performed by the account holder. Savings account will turn inactive/dormant after 36 months and Current account will turned inactive after 12 months. Please be assured that your funds are still in the account and will continue to earn interest.

You will not be able to transfer funds via internet banking or withdraw funds from ATM card (if applicable).

The simplest method to activate the account will be to transfer any amount from your other bank's internet banking to your CIMB Account. Upon receiving your transfer, your account will be activated the following day.

There are no charges for dormant account.

Alternatively, please provide us your preferred contact number and time of contact between 9.00am to 7.00pm (Singapore Time) to reach you. We will arrange for a customer service executive to contact you in order to assist regarding your activation of account enquiry.


Should you require further assistance on this matter, please feel free to call us (open Mondays to Sundays between 9am and 7pm). You may visit our official CIMB Singapore website for our banking hotline number or reply to this email.

We look forward to serving you again soon.





Fred Huin
CIMB At Your Service
Consumer Banking Singapore


So much better than Malaysia's - after 12 months saving account becomes inactive (6 mths for current account). Malaysia should learn this from Singapore. Inactive accounts will have their excess money transferred to "unclaimed" which you will then need to contact the gov to collect (very leceh steps according to a local bank that I just asked).


This post has been edited by Davidtcf: Mar 3 2022, 05:56 PM

 

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